VANCOUVER, British Columbia, May 11, 2023 (GLOBE NEWSWIRE) -- CloudMD Software & Services Inc. (TSXV: DOC, OTCQX: DOCRF, Frankfurt: 6PH) (“CloudMD”), an innovative health services company transforming the delivery of care, and XTM Inc. (“XTM”) (QB: XTMIF / CSE:PAID / FSE:7XT), a Fintech creator of disruptive payment innovations and staff management solutions to inspire today's workers in the hospitality, personal care and service space, today announced an innovative partnership to bring Employee Assistance Program (“EAP”) and telemedicine to the historically underserved hospitality and service industry.
“Inspired workers are a win for employers,” said Marilyn Schaffer, CEO, of XTM. “Healthcare creates a lot of noise and distraction for service workers who may have difficulty in accessing a family doctor due to scheduling and the shortage of local professional medical experts. Through our partnership with CloudMD, we dignify the service workforce by offering on-call virtual healthcare as well as short-term mental health support. This service will be offered either through employers or by Members’ direct opt-in.”
“Our partnership with XTM will enable us to empower their members to lead healthier lives,” said Adam Kelly, EVP & Chief Commercial Officer of CloudMD. “We know the traditional healthcare system is strained, and through our EAP and telemedicine programs, we can offer faster time to care for both personal and medical challenges. Service industry workers face difficulty in accessing care due to their changing and irregular work shifts. There’s no need for them to spend weeks waiting for a General Practitioner appointment.”
The new partnership will allow large chains, individual locations, or individual workers to opt-in at an attractive per-member, per-month cost, enhancing the value of being an XTM member and improving health, wellness, and productivity of participating organizations.
About XTM
XTM, www.xtminc.com, is a Miami and Toronto-based fintech innovator founded in the cloud-banking space and further helping businesses inspire their workforce in the hospitality, personal care and services staffing industries. Established as a leader in on-demand pay with many large brands including Earls, Maple Leaf Sports & Entertainment, Cactus Club, Marriott Hotels and Live Nation, XTM continues to innovate with further digital featurization to support businesses to inspire workers to want to work more with shift scheduling and call-outs, staff management, expense management, in-app health and financial wellness; and gamified loyalty programs. XTM's Today Financial™ is in use through POS and Payroll integrations and directly through web portals by thousands of businesses and their workers across Canada and the United States.
About CloudMD Software & Services
CloudMD is an innovative North American healthcare service provider focused on empowering healthier living by combining leading edge technology with an exceptional national network of healthcare professionals. Every day, our employees and health care providers live our values of delivering excellence, collaboration, connected communication and accountability to solve complex health problems. CloudMD’ s industry leading workplace health and wellbeing solution, Kii, supports members and their families with a personalized and connected healthcare experience across mental, physical and occupation health. Kii delivers superior clinical health outcomes, consistent high engagement, and measurable ROI for payers such as employers, educational institutions, associations, government, and insurers. CloudMD is also a market leader in workplace absence management through data-driven prevention, intervention and return to work programs.
In addition, the Company sells health and productivity tools to hospitals, clinics, and other healthcare service providers to empower them to deliver better care. Visit www.cloudmd.ca to learn more about the Company’s comprehensive healthcare offerings.
“Karen Adams”
Chief Executive Officer
FOR ADDITIONAL INFORMATION, CONTACT:
Investor Relations
Investors@cloudmd.ca
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statements
This news release contains “forward-looking statements” and “forward-looking information” within the meaning of Canadian securities laws, including statements about the Company’s growth strategy and profitability. These statements are based upon information currently available to CloudMD’s management. All information that is not clearly historical in nature may constitute forward‐looking statements. In some cases, forward‐looking statements may be identified by the use of terms such as “forecast”, “assumption” and other similar expressions or future or conditional terms such as “anticipate”, “believe”, “could”, “estimate”, “expect”, “intend”, “may”, “plan”, “predict”, “project”, “will”, “would”, and “should”. Forward-looking statements contained in this news release are based on certain factors and assumptions made by management of CloudMD based on their current expectations, estimates, projections, assumptions and beliefs regarding their business and CloudMD does not provide any assurance that actual results will meet management’s expectations. While management considers these assumptions to be reasonable based on information currently available to them, they may prove to be incorrect. Such forward‐looking statements are not guarantees of future events or performance and by their nature involve known and unknown risks, uncertainties and other factors, including those risks described in the Company’s MD&A (which is filed under the Company’s issuer profile on SEDAR and can be accessed at www.sedar.com), that may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward‐looking statements. Although CloudMD has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward‐looking statements, other factors may cause actions, events or results to be different than anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could vary or differ materially from those anticipated in such forward‐looking statements. Accordingly, readers should not place undue reliance on forward‐looking information. CloudMD does not undertake to update any forward-looking information, whether as a result of new information or future events or otherwise, except as may be required by applicable securities laws.
